By Jesse Cohen
Investing.com - The White House pressed on Tuesday for enactment of a $1 trillion stimulus package, as the Trump administration looks to battle the economic impact from the coronavirus pandemic.
“It’s going to be big, it’s going to be bold,” President Donald Trump said.
Potentially $250 billion of the package could go toward making direct payments of as much as $1,000 to every American citizen.
“Americans need cash now,” Treasury Secretary Steven Mnuchin said during a White House press briefing on the administration’s latest efforts to combat the disease. “I mean now in the next two weeks.”
The White House will now have to negotiate a package with Congress before it gains approval. Democrats have made clear that any support to industries must come with significant aid to workers.
With cases of the respiratory illness reported in all 50 states and the total number of known U.S. infections nearing 10,000, millions of Americans hunkered down at home instead of commuting to work or going to school.
Roughly half of all Americans want the U.S. government to act more aggressively to slow transmission of the coronavirus, such as banning large public gatherings and shutting down all overseas flights, according to a Reuters/Ipsos poll released earlier this week.
To see more of Investing.com’s weekly comics, visit: http://www.investing.com/analysis/comics
-- Reuters contributed to this report